ERJ staff report (DS)
Dettingen/Erms, Germany -- ElringKlinger Group has reported an 11.9 percent decline in sales revenue to EUR 579.3 (657.8) million for the 12 months ended December 2009. Despite thie difficult economic situation, the Group reported earnings before interest and taxes (EBIT) of EUR 63.3 (71.5) million. Net income after minority interests fell by 16.6% to EUR 33.2 (39.8) million.
The comIt said, "pany said demand increased toward te end of the year. ElringKlinger said, "Following a major slump in the fourth quarter of 2008, which continued into the first quarter of 2009, the rest of the year was marked by a substantial recovery. In the fourth quarter of 2009, new orders for the ElringKlinger Group reached EUR 172.8 (106.1) million, the highest fourth-quarter level ever recorded by the Group. In 2009 as a whole, order intake for the Group fell by 1.4% to EUR 612.9 (621.3) million due to base effects."
The company said early reaction to te crisis had reduced its break-even point
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Press release from ElringKlinger